New Zealand is one of the best places to do business. It’s business environment, laws, policies, taxation systems, political situation and labor market make it very easy to start a business in New Zealand. Every year many startups begin their journey here. Some of these startups have captured the international market as well. Here are the three amazing startups from New Zealand.
This is the largest internet auction based website, same as eBay. It was found in 1999 by entrepreneur Sam Morgan. It owns a network of all the popular site of New Zealand. This site is so popular that it has 60% of New Zealand’s Internet traffic.
It is a software company that develops cloud-based accounting software for small and medium-sized businesses. The products are based on software as a service (SaaS) model. The software is sold by subscription. It offers easy invoice generation and sends options for clients to pay online. It also sends cashflow reporting directly from the customer’s bank account.
This company is building undersea fiber cables which will connect New Zealand with Australia and the USA. It is trying to solve the major problem of New Zealand’s broadband. The fiber cable would be 12,750 km (7,920 miles) in length. The investment of the project is US$350 million. Its customers include Vodafone New Zealand, Kiwi Advanced Research and Education Network and Australian ISP iiNet.
These startups have been hugely successful. The outcome of these companies indicates that startups in New Zealand have a very bright future.
July 30, 2016
As the unemployment rate is increasing and more graduates are entering the job market, more people are trying to start their own business. There are many challenges of starting a new business. Having limited capital is the biggest challenge. Here are some suggestions on starting a business with limited capital.
1. Take a partner
You can form a partnership with an existing company. It will give you the opportunity to use a pre-existing infrastructure and add value to the company as well.
2. Offer a service
If you start a service-based business, then you need little capital. There is less need for office space. There is less overhead cost. Your business will run depending on your expertise and without the need of much capital.
If you are selling a tangible product, then instead of manufacturing the product yourself you can outsource it. After you make some profit, you can start manufacturing product by yourself. In such case, you should make sure that you manage everything well from sales, receivables and inventory management.
4. Look for Angel Investors
If you have a strong network, try to find someone who will finance your business. Many angel investors are ready to invest in good small business ideas. They help entrepreneurs to start the business.
Some websites like ‘Chipin’ and ‘Kickstarter’ offer low-cost entry platform for funding projects. You can make a short video about your business and upload it to these websites. You might find potential donors who like your business idea, and you will be able to raise money for your startup.
There are several ways open to you for doing business even if you have limited or no capital. All you need is a brilliant idea and a skilled workforce to start a business.
New Zealand is a beautiful country. There is a huge business opportunity here, especially with the growth of the hospitality industry. If you want to start a business in New Zealand, it is a good time now. Here are four reasons to start a business in New Zealand.
Safe and secure business environment
New Zealand is one of the most secure places to do business. It was ranked first by World Bank this year for doing business. This was mainly because of protecting minority investors and for the ease of starting a business. New Zealand was ranked second for honesty and integrity in the public sector by Transparency International, an NGO working for anti-corruption. New Zealand was also ranked third by Heritage Foundation Index of Economic Freedom. The banking industry of New Zealand is strong.
Ease of doing business
New Zealand always scores very high on this factor. It only takes a day to incorporate a business in New Zealand. Registering a property takes two days. The taxation system is very business friendly. It supports research and development, capital development and international investment. New Zealand is ranked fourth for attracting foreign investors.
Cost of doing business
It costs little to do business here. The cost of labor is very competitive compared to other first-world countries. The workforce is also very educated and skilled.
Simple tax system
New Zealand offers a low-compliance and competitive tax system. Here, there is no payroll tax, no capital gains tax, and no social security tax.
The economy is very stable and competitive. There is a broad range of free trade agreements, an efficient tax code, and an open political system. There are no import tariffs or Government subsidies. The competitive economy of New Zealand facilitates business.